Summary and Purpose of Assessment
For this report you are to satisfactorily complete the Swanston Banking Group ‘Product Review Document’, as one of three assessment of this unit which all must be completed order to be deemed competent for this unit. Completing this report allows you to demonstrate your skills and knowledge in:
- Compare and contrast the benefits and applications of a range of financial products and services
- Communicating and collaborating with stakeholders
- Describe the key features of legislation and regulation relevant to:
- financial services
- company law
- competition and consumers
- Analyse and describe the key characteristics of customer motivations, needs and wants
Assessment Instructions
For this assessment you will asked to complete the following project over three stages:
Stage 1 Product Review Document.
The Task
This is an individual student project, which is to be the students own work submitted. However, students can work in teams to conduct the research and documentation. Students are to produce a product review document to conduct an analysis on a product/service that they would like to recommend or improve upon.
What
Complete the product review document, the students must;
- Step 1. Identify 5 banking products or services they would like to improve or develop.
- Step 2. Work through a Product Review Document to guide you through the analysis
- Step 3. Develop a reward and recognition strategy to build customer loyalty
- Step 4. Finalise a recommendation report on your product or service
Note:
When completing the Product Review document consider the:
- Usage patterns of small business customers
- What would make banking easier for the small business banker
- Legislative and regulative impact/considerations as required
Where
This delivery of the sub-assessment task will be conducted within class timetables. However, it is expected that the majority of this assessment preparation will be completed outside of class.
Stage 2 – Product Marketing Plan
The Task
Develop your marketing plan for the identified products/services you identified in your product review document.
What
Complete a marketing plan for the products of services the student has identified. The plan must include:
- Objectives;
- Products;
- Market;
- Competition ( comparison with other banks)
- Target/s; and
- Action Plan ( email, social media, face to face and phone
Where
Time will be allowed for the sub-assessment task within class timetables. However, it is expected that the majority of this assessment preparation will be completed outside of class.
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